Stride (NYSE:LRN) Stock Price Down 5% – What’s Next?

Stride, Inc. (NYSE:LRN) traded down 5% on Tuesday . The stock traded as low as $90.09 and last traded at $87.4270. Approximately 28,576 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 957,341 shares. The stock had previously closed at $92.02.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LRN shares. Barrington Research reiterated an “outperform” rating and set a $125.00 target price on shares of Stride in a report on Thursday, April 16th. William Blair restated an “outperform” rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research report on Wednesday, July 8th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Stride has a consensus rating of “Hold” and an average price target of $109.75.

Stride Stock Down 4.1%

The firm has a 50 day moving average price of $90.41 and a two-hundred day moving average price of $85.60. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 0.51 and a beta of 0.10.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. The business had revenue of $629.87 million for the quarter, compared to analyst estimates of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 earnings per share. As a group, sell-side analysts expect that Stride, Inc. will post 8.21 earnings per share for the current year.

Hedge Funds Weigh In On Stride

A number of institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Stride during the second quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. grew its holdings in Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after acquiring an additional 85 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after acquiring an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Stride by 108.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock worth $38,000 after purchasing an additional 225 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Stride in the 3rd quarter valued at about $78,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.